Bank of America pledges US$250bil in financing for US projects
The initiative targets digital infrastructure, energy and power through direct lending, investment, banking and advisory solutions.
Bank of America has announced a $250 billion initiative to finance critical US infrastructure projects, marking the 250th anniversary of America. The bank's 18-month plan, set to run from 2026 to July 2027, aims to drive growth, create jobs, and define the country's next chapter. The initiative focuses on three key areas: digital infrastructure, including data centers; energy and power; and core infrastructure, encompassing transportation and critical minerals.
Jim DeMare, co-president of Bank of America, emphasized the bank's confidence in the nation's future and its commitment to supporting these essential projects. While the bank has not yet disclosed the amount of funds mobilized, it serves as a financial advisor to a $16 billion data center project in Michigan, with Oracle as the tenant.
Karen Fang, Bank of America's global head of infrastructure and sustainable finance, explained that the financing for this project will be structured through 19-year bonds to attract investors and enable potential refinancing.
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- Bank of America pledges US$250bil in financing for US projects freemalaysiatoday.com
